New York, US: In a groundbreaking move to confront rising prices and support working families, New York State is launching its first-ever inflation refund checks program this fall. Starting in October 2025, millions of New York residents will receive direct payments aimed at offsetting the increased cost of living and higher sales taxes caused by record inflation.
Relief Is on the Way: What’s Happening?
Governor Kathy Hochul, as part of the Fiscal Year 2026 State Budget, has announced that more than 8.2 million households throughout New York will benefit from one-time payments of up to $500. This initiative represents a direct response to surging expenses in essentials like food, housing, and transportation, and is funded by surplus state revenues driven by inflation-boosted sales taxes.
Who Qualifies for the $500 Check?
To be eligible for an inflation refund check, New York residents must meet the following criteria for the 2023 tax year:
- Filed a New York State Resident Income Tax Return (Form IT-201).
- Reported income within the qualifying thresholds.
- Were not claimed as a dependent on another taxpayer’s return.
How Much Will You Receive? Income Thresholds Made Simple
The amount of your check will depend on your filing status and income for 2023:
Filing Status Income Thresholds Refund Amount
Single Up to $75,000 $200…